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Poster: dead-head_Monte Date: Oct 29, 2009 10:28am
Forum: GratefulDead Subject: Re: thought for the day

Good one, Mando. I would remind people, as you were alluding, about the "fixters" at the financial instrument ratings agencies - Moody's, and Standard & Poor's, are the 2 biggest. These ratings agencies fixed much of the Ponzi shemes. They took JUNK - these were the all the bad sub-prime loans - and they spread or drizzled them around into mortgage-backed securities and other dilluted financial instruments. So they fraudulently produced AAA ratings in many cases. They did it on the "inside," by using their tooth-fairy analysts at Moody's and Standard's & Poor's to "bait 'n switch" these investment securities. The analysts told their computer models, and they were telling the world, "Housing Prices and values will always go up. They will never go down." Yep, and I am Santa Claus. Then AIG sold hundreds of $$$billions of phony insurance for this shit! They made $Billions. Wait, we are paying the bill for AIG.

Some of this JUNK spread into complex derivatives and credit default swaps. Greedy Hedge Funds investors, Wall Street big firms, Big Banks and investment firms got super-greedy and way over-leveraged themselves on this crap. They made huge salaries and bounuses. Meanwhile regular people were encouraged to just keep getting more greedy too, and keep taking on and piling up ever-increasing amounts of debt, just like the fabled Pied Piper.


AAA is supposed to be the best, safest, most secure financial rating in the world. It's as good as gold. It's as good as the air we breathe, the water we drink, and the food we eat. Without AAA, the system falls apart. No one has been punished, there were no penalties, and there are no new regs. We lost our shirts. Here we are. The recession is over.


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Poster: skies Date: Oct 29, 2009 10:45am
Forum: GratefulDead Subject: Re: thought for the day

Raters and ratings were corrupt ,big business , big medias , pig politiciens , all together preaching loudly what a wonderful world it is , so buy ,buy ,buy ,on credit , and then pay pay pay foremore for AAA ratings !These scams go on since wall street was invented .Methinks ,that exactly why wall steet was set up for , scamming on those little people gullible about medias's propagandia . Wars are sold the same way to the people !